Pancontintinental issued a presentation last week showing drilling with Tullow next year. I cannot see it becoming an industry wide policy unless you expect pretty much all exploration to stop across the planet ..
“Right now shareholders don’t particularly want big exploration because if you find oil in deep water the big question is, ‘where is the capital going to come from to develop it?’” Heavey said.
Should that become an industry wide policy, we could find ourselves with a longer wait than hoped, for farm-in/drilling news. There's an article on 'Africaintelligence.com' with a tantalising headline of ''Chariot poised to drill in offshore - Concentrating on exploring the Atlantic shores like Kosmos Energy''. Unfortunately, I'm not a subscriber but its probably just click-bait.
Intriguing that on most recent Cairn presentation (the larger pdf download, page 28), as on previous presenations, the largest "drillable/commercial" target - the biggest green bubble - remains unidentified, unlike all the targets already scheduled for drilling, which are labelled. Can but hope the mystery, giant green bubble is ours.
Sorry, I have shown my limited knowledge of oil prospects. Al Khayr prospect is in the Cap Boujdour block and Kosmos unabiguously state that Atwood Achiever will drill it starting 'late in the fourth quarter.'
Cairn's Interim Management Statement of 30th October says: "One exploration well planned to commence on the Cap Boujdour contract area December 2014." As Kosmos' drill is 'one exploration well on the Cap Boujdour contract area,' it still leaves Cairn's Cajun Express drillship with free time to sail on to Mauritania and spud C19. Nevertheless, there is nothing to suggest this in Cairn's IMS.
Just read both Q3 results. Kosmos are sending Atwood Achiever drillship to start with Al Khayr prospect (previously called Gargaa). Cairn plan to use Cajun Express' spare slot to drill Cap Boujdour. I'm a little surprised and disappointed Cairn chose Cap Boujdour because they only have 20% non-operator interest, whereas they could have taken their option to become operator of our C19 block.
Always the bridesmaid...........
How slow can you be and still call yourself a 'fast' follower?
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